In Brief: Flagstar Expects 1st-Quarter Profit To Top Estimates

Flagstar Bancorp said first-quarter earnings should exceed analysts' expectations, in part because of strong mortgage originations.

The banking company said it made $4.8 billion of mortgage loans in the first quarter, up 33% from a year earlier.

Thomas J. Hammond, Flagstar chief executive, said in a statement that technology was a significant contributor to loan production. The high loan volume should bring in "large amounts of fee revenue," he said.